API comments on SEC proposed climate disclosure rule
American Petroleum Institute (API) Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola issued the following statement in response to the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule.
“The U.S. oil and natural gas industry has a long history of sustainability reporting, and achieving greater comparability and transparency across those efforts is a leading priority. We are concerned that the Commission’s sweeping proposal could require non-material disclosures and create confusion for investors and capital markets. As the Commission pursues a final rule, we encourage them to collaborate with our industry and build on private-sector efforts that are already underway to improve consistency and comparability of climate-related reporting.”